If you’re concerned about keeping up with your mortgage payments, we understand that life events happen and may result in difficult times. At RWM Home Loans, we believe in the power of home ownership and really do want to help you keep your home, please speak with us right away.

Please contact our Servicing Center at 855-418-0876 between the hours of 7:30am -8:00pm Central Standard Time.

Even if you have asked for help before, it starts with an honest conversation and reviewing which current options may be best suited to help you with your situation. One important decision that you will need to think about is if you would like to stay in your home, or if you would not like to own it any longer.

Here are some questions to consider which may help us guide you to the best option:

• Your circumstances, why you fell behind on your mortgage and your ability to pay in the future.
• Your monthly income and how it compares to your housing costs.
• Your property value, the amount of your equity.
• The condition of the property
• Whether you live in the property or it’s vacant

Each homeowner’s situation is unique and there may be other factors to consider, such as the type of property you own (single family, multi-family, condo, or town-home) and your current loan program.

Let’s start the conversation as soon as possible to help get you started in the right direction.

Options to Stay in Your Property

Refinance

• Receive a new loan with a lower interest rate or other favorable terms.
• Lowers your monthly payment and/or improves your current terms.

Reinstatement

• Pay the total amount you owe, in a lump sum payment and by a specific date. This may follow a forbearance plan as described below.
• Allows you to avoid foreclosure by bringing your mortgage current if you can show you have funds that will become available at a specific date in the future.

Repayment Plan

• Pay back your past-due payments together with your regular payments over an extended period of time.
• Allows you time to catch up on late payments without having to come up with a lump sum.

Forbearance Plan

• Make reduced mortgage payments or no mortgage payments for a specific period of time.
• Have time to improve your financial situation and get back on your feet.

Modification

• Receive modified terms of your mortgage to make it more affordable or manageable after successfully making payments during a “trial period” (that is, completing a three- or four-month trial period plan) that approximates the modified payment.
• Permanently modifies your mortgage so that your payments or terms are more manageable as a permanent solution to a long-term or permanent hardship.

Options to Leave Your Property

Short Sale

• Sell your home and pay off a portion of your mortgage balance when you owe more on the home than it is worth.
• Allows you to transition out of your home without going through foreclosure. In some cases, relocation assistance may be available.

Mortgage Release (Deed-in-Lieu of Foreclosure)

• Transfer the ownership of your property to us.
•  Allows you to transition out of your home without going through foreclosure. In some cases, relocation assistance may be available.

To request more information regarding which options are available to you, please contact our Servicing Center at 855-418-0876 between the hours of 7:30am -8:00pm Central Standard Time.

If you would like assistance from a HUD-certified housing counseling agency, please call 800-569-4287.

Washington Residents – You may call the Washington home ownership hotline at 1-877-894- HOME (1-877-894-4663)